VCE Accounting exam 2026Exam: Wed 11 Nov · VCAA timetable
Your VCE Accounting exam:
When and how long
- Accounting3.00 pm to 5.15 pm2 h plus 15 min reading time
VCAA: the reading period is included in the times shown, and each examination starts with a 15-minute reading period unless otherwise specified. Arrive at least 30 minutes before the start time. A few language exams run earlier in October.
Source: 2026 VCE examination timetable (VCAA), checked Wednesday 23 September 2026. Where a start time, reading time or duration isn't shown, the timetable doesn't publish it: check your personal timetable and the front of your paper.
What the exam covers
We don't have past-paper frequency data for this exam, so here is the course, module by module. Make sure every module is covered.
Night-before and exam-morning checklists
The night before
- Check the start time of each exam; the 15-minute reading period is included in the timetable times.[2]
- Pack a transparent pencil case: pens, pencils, highlighters, erasers, sharpener and a ruler.[1]
- Pack your approved calculator and spare batteries (CAS only where allowed: General Maths, Methods Exam 2, Specialist Exam 2).[1]
- Still water in a clear plastic bottle, labels removed, no more than 1500 mL (it stays off your table).[1]
- Stop revising around 8 pm, set two alarms and sleep.[1]
Exam morning
- Eat a real breakfast.[1]
- Arrive at least 30 minutes before the start time.[2]
- If you are up to 30 minutes late you still get full writing time, but no reading time.[1]
- Leave phones, smart watches and fitness trackers outside the exam room.[1]
- In reading time: read and plan, but don't write or use your calculator.[1]
- You can't leave before 30 minutes of writing time or in the last 5 minutes.[1]
Exam-week survival kit: The last 7 days · The night before and exam morning · What to bring, and what's banned · How to use reading time · If you're sick or something goes wrong · Handling exam-week stress.
Last-week revision
VCE Accounting cram sheet
Key formulas, definitions and facts copied from our Accounting syllabus pages. One page when printed.
Unit 3: Financial accounting for a trading business
Accrual accounting recognises revenue when it is earned and expenses when they are incurred, regardless of when cash is received or paid. This is required so the Income Statement matches revenues against the expenses incurred to earn them.
Net realisable value is the estimated selling price of inventory in the ordinary course of business, less the estimated costs necessary to make the sale. Inventory is reported at whichever is lower, its cost or its net realisable value.
Classifying assets and liabilities as current or non-current lets users assess liquidity. Comparing current assets with current liabilities (the working capital ratio) shows whether the business can meet short term obligations.
A trial balance is a list of the closing balances of every account in the General Ledger, arranged into a debit column and a credit column, prepared to check that total debits equal total credits before the reports are drawn up.
Unit 4: Recording, reporting, budgeting and decision-making
A bad debt is an account receivable now known to be uncollectable, which is written off. A doubtful debt is an estimate at balance day of accounts receivable that may not be collected in future; it is recognised through an Allowance for Doubtful Debts, a contra asset that reduces the reported value of receivables.
A variance is the difference between a budgeted figure and the corresponding actual figure for a period. It measures the extent to which actual performance departed from the plan.
Budgeting is the process of preparing financial reports for a future period based on expected transactions. A budget sets out planned revenues, expenses, cash flows and balances so that performance can be planned and later compared against actual results.
Non-financial information is information that is not expressed in monetary terms but is relevant to evaluating performance, such as the number of customer complaints, levels of customer and staff satisfaction, market share, environmental impact and the number of repeat customers.